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In response to the faltering economy and its impact on working families, Assembly Speaker Sheldon Silver has called on Assembly Ways and Means Committee Chair Herman D. Farrell to conduct a series of statewide public hearings to gauge the fiscal impact of the national economic crisis on working families, businesses and communities throughout New York state.

Silver has also called on Assembly Insurance Committee Chair Joseph D. Morelle to hold a hearing to discuss the regulatory actions and legislative issues in relation to AIG and other insurance issues.

Silver also asked Assembly Committee on Corporations, Authorities and Commissions Chair Richard Brodsky to hold a hearing to review the status of current Metropolitan Transportation Authority projects in light of looming budget deficits. Silver himself will hold hearings in Lower Manhattan to assess the status of rebuilding projects at the World Trade Center site.

Full release after the jump.

SILVER CALLS FOR STATEWIDE HEARINGS ON
NEW YORK’S ECONOMY

Speaker Says Hearings Necessary To Evaluate Fallout Of National Economic Slowdown And Challenges Faced By New York’s Working Families

Noting the challenges faced by New Yorkers during the recent economic downturn, Assembly Speaker Sheldon Silver today called on Assembly Ways and Means Committee Chair Herman D. Farrell to conduct a series of statewide public hearings to gauge the fiscal impact of the national economic crisis on working families, businesses and communities throughout New York state.

In addition, Silver called on Assembly Insurance Committee Chair Joseph D. Morelle to hold a hearing to review the regulatory actions taken by Superintendent Dinallo in relation to AIG and to swaps, and to discuss any other insurance-related regulatory or legislative issues that need to be considered. Silver also called for Assembly Committee on Corporations, Authorities and Commissions Chair Richard Brodsky to hold a hearing to review the status of current Metropolitan Transportation Authority projects in light of looming budget deficits. Additional hearings chaired by Silver in Lower Manhattan will assess the status of rebuilding projects at the World Trade Center site.

“As Congress struggles to address this national crisis, New York needs to assess a situation that is rapidly changing. This series of hearings will give lawmakers a clearer sense of where we are fiscally and what actions can be taken to help families and protect our state’s economy. Now is the time to understand what can and must be done. By grasping the status of families, businesses and communities during these trying times, we are confident we can respond to the needs of our state,” said Silver (D-Manhattan).

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